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you can switch your medicare part d plan. we're ready, and we can't wait to switch. [ male announcer ] make the switch to an aarp medicarerx plan, insured through unitedhealthcare. open enrollment starts october 15th and ends december 7th. call now for a free information kit. discover why these part d plans are so popular. what i wanted was simple: the most value for my dollar. so, now that it's time, we're making the move to a plan that really works for us. plus, we'll be covered at like 60,000 pharmacies. [ male announcer ] call now and get predictable copays and plans with no deductible. you can start saving with your first prescription. aarp medicarerx plans include nearly all the drugs covered by medicare part d, so why wait. call now. [ man ] december 7th is coming. i'm glad we're switching. [ male announcer ] call now, ask about the lowest part d premium in the u.s. aarp medicarerx plans insured through unitedhealthcare. call today. ♪ i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male
long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at options. then i got a medicare supplement insurance plan. [ male aouncer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it helps pick up some of what medicare doesn't pay. and could save you thousands in out-of-pocket costs. to me, relationships matter. i've been with my doctor for 12 years. now i know i'll be able to stick with him. [ male announcer ] with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral to see a specialist. so don't wait. call now and request this free decision guide to help you better understand medicare... and which aarp medicare supplement plan might be best for you. there's a wide range to choose from. w
on the table we are not very serious. we know that medicare and social security are going to grow. >>neil: thank yous senator. normally, you know with every prominent guest i write them a thank you note and you just let me know, you don't like it, you don't --. >>guest: no, it is not that. i don't want you to take your time that you have to devote to and talking to grover norquist and all the other things. that is all. i do appreciate the opportunity of being on your show and i think you do a great job and you are a fund guy. >>neil: it is fun to cut out magazine letters circumstances. john mccain, senator, and former presidential candidate. thank you. go for the hikes, just keep your hands off entitlements, unions are sending that message to congress. is congress listening? republican senator rand paul says they better not listen to that. ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground s
, let's be honest. they mean getting rid of medicare, getting rid of medicaid. >> structural reforms. >> bill: and privatizing social security. >> it was good to hear yesterday jay carney the white house press secretary, i don't know if you were there. taking social security off the table. it's not a problem. it hasn't contributed to the deficit. that's off the table. they're open to medicare. they've been open to changing provider payments which there is a lot of waste there. encouraging pharmacy companies to give medicare and medicaid better rates. those are all positive reforms. those are big savings. so we can take and find savings from the provider side. it is when you go after the beneficiaries that you run into problems but look, you know, romney ran an entire campaign hitting democrats for cutting $716 billion out of medicare. now they turn -- republicans backed that view we shouldn't touch medicare at all. now they turn around and say you have to cut medicare. it is as if the 716 debate we had for mo
is fighting to protect seniors with responsible... solutions that strengthen medicare and... social security for generations to come. we can do better than a last minute deal... that would hurt all of us. >>> breaking news from egypt. thousands of protesters gathered in tahrir square. 6:15 at night there, many have been chanting step down in reaction to the decree issue by egypt's new president that grants him absolute power. the sixth straight day of protest after morsi issued his decree last thursday. earlier today, the protest turning violent on a street near tahrir square. at least three protesters have been killed since the weekend. nbc live from cairo. and the crowd in tahrir square has been growing, building over the past hours. explain what we're seeing now. >> reporter: well, behind me, probably tens of thousands of egyptians have gathered, been here since the early hours of the morning. in fact, some have been camped out for the past six days. many songs, chants, slogans reminiscent of two years ago, calling on the same things they did two years ago, which is for the president of e
of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends dember 7th. so now's the time. visit care.gov or call 1-800-medicare. >>neil: and guess what is topic one at the u.n. climate control? hurricane sandy, a storm they are still cleaning up and environmentalists hope they will be clean will up there, where some countries using the storm that dislocated thousands to now redistribute wealth to the tune of billions. all in the name of climate change. our reporter says that will cost a lot more that chump change. what is going on here? >>guest: well, this is like pavlov dogs, the activists think we need more taxes and regulations to stop bad weather. this is a primitive form of science. to use hurricane sandy as a poster child for global warming as the united nations and al gore is now doing, that makes as little sense as you can possibly imagine. we are at 30 or 40
healtlth professions who helped us achieve the highest average star rating among national medicare ompanies... and become the first and only tional medicare advantage company to achieve a 5-star rating for a medicare plan... your forts result in the quality of care and service we're able to provide... which means better health outcomes... and more quaty time to share with the ones who matterost. i love you, grandma! [ le announcer ] h humana. ♪ >> no question about it, it's a trend. we've got another company paying shareholders a big dividend, ap taxes could go up in the you new year and today it's costco, paying a one time special dividend the $7 a share, and paying on september 18th and if the fiscal cliff hits, taxes on dividends go way up after january the 1st, and the total payout for costco is 3 billion dollars and doing it this year would save shareholders as much as 700 million in total in taxes, good deal. and a big drop today for the fresh markets, that's the fresh markets, that's the stock, a grocery store chain apparently, didn't know of it. didn't earn much money, it spent m
know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. call today to request a free decision guide to help you better understand medicare and whh aarp medicare supplement plan works best for you. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. there's a range of plans to choose from, too. and they all travel with you. anywhere in the country. join the millions who have already enrolled in the only medicare supplement pla endorsed by aarp, an organization serving the needs of people 50 and over for generations... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. call today. remember, all medicare supplement pla
, republicans want changes to medicare and medicaid, cuts they say will keep both of them solvent for future generations. in exchange, one possible deal would eliminate deductions for the wealthy, maybe even the very popular mortgage deduction. and while republicans have been more open to revenue, that does not mean tax rate increases. many democrats insist that tax rates for the wealthiest americans absolutely have to go up. but they don't necessarily agree on how much they should rise. let me bring in usa today's washington bureau chief, susan page, and ryan grim. good morning to both of you. >> hey, good morning. >> good morning. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you kno
within the medicare program, move away from a fee for service system which does lead to higher costs, but we would not take -- we would not simply take those rising costs and put them on the backs of seniors as the republican plan would. >> yes or no, do you support raising the retirement age? >> no, i do not support raising the retirement age. as i said, i think the best approach to dealing with this is to build on the progress that we made in the affordable care act which is already showing signs of slowly bending the cost curve in health care. we need to do more, but we shouldn't do it by simply transferring the risks and costs onto the backs of seniors and that's the very different approach that we have taken from our republican colleagues. >> a growing group of liberal fiscal cliff jumpers if you will as they're being called, they seem to be willing to risk everything, jump off the cliff if social safety nets face deep cuts while tax rates stay low for the wealthy. do you think that is smart politics or could it backfire against democrats? >> i think what the president has said
to raise the retirement age of medicare, might fold parts of medicare into one, so you can get efficiencies. that will be on the table. there's going to be cuts. and i don't think it's a mystery about how big the tax increase is going to be. john boehner says 800 billion, the president puts down a $1.6 trillion marker. doesn't take einstein to figure out you get $1.2 trillion. to me, that's going to be the size of the tax increase. you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax for rich people. >> a combination of those two. we've got a lot more to talk about with you. monday night football highlights the eagles showing they don't need michael vick to lose
the president said in 2010. >> the major driver of the long-term liabilities is medicare, medicaid and healthcare spending. nothing comes close. social security we could probably fix the same way tip o'neil and ronald reagan sat down together and we could figure something out. that is manageable. medicare and medicaid, massive problems down the road. that's where, that is what our children have to worry about. >> dana: here we are, two years later and still no plan. on the left in congress refusing to deal with that simple reality. vermont senator bernie sanders caucuses with the democrats. take a listen. >> i get nervous when i hear the president and others continue to talk about quote/unquote, entitlement reform. which is just another cut for medicaid and medicare and social security. >> eric: brian, start with you, today. >> dana: you look surprised. >> brian: i am. yet honored. >> dana: do you think they are closer to a deal? after thanksgiving people get back to work. >> brian: i was encouraged when i pick up the papered president is working with people. but then i pick up the
"morning joe." we're brewed by starbucks. of washington about the future of medicare and social security. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. i want to get a big tv for my big family, for the big holiday. we like to watch big games. we got a big spread together... so it's gotta be big. how about the 55-inch lg tv. it's led and has incredible picture quality... that's big... but i got a little budget. with the walmart credit card special financing you can go big this year. that's big time! alright! [ male announcer ] get the season's hottest brands, like an lg 55-inch led tv. make an electronics purchase of $429 or more on your walmart credit card and get no interest if paid in full within 18 months. america's gift headquarters. walmart. inspiration. great power. iconic design. exhilarating perf
found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aarp. don't wait. call now. ♪ ♪ every time he drinks he thinks of her ♪ ♪ but every morning her memory fades away ♪ >> every time he drinks he thinks of her. >> willie's son lucas nelson wrote it. with me now, talented guys your sons? >> yes. >> one
dick durbin says medicare and medicaid are fair game in deficit negotiations, but insist social security should be left alone. >> social security does not add one penny to our debt, not a penny. it's a separate funded operation, and we can do things, and i believe we should now, smaller things, played out over the long term that gives it solvency. medicare is another story. only 12 years of solvency lie ahead if we do nothing. so those who say don't touch it, don't change it are ignoring the obvious. >> despite showing willingness for reform -- >> can we talk about that for a second? >> i don't want to repeat what you said. >> it's bull hockey. >> that's not what you said. >> this whole thing has been a complete farce for years. there's no trust fund. they raided that a long time ago. but the bigger point, i will because you know what? my heart has grown like the grinch's since thanksgiving. i have so much to be thankful for. >> it's been growing ever since election day, basically. >> so i'm going to be kind. first of all, senator durbin deserves respect on this front because he
, medicare and medicaid from any cuts in the friscal cliff negotiations. >> ceos meeting with president obama at the white house. that pow wow kicking off within the hour. >>> also ahead, this important story -- >> i plan to go to law school of a i graduated. looks like my folks won't have enough money to put me through college. >> well, the world needs ditch diggers too. >> student loan debt nears the $1 trillion mark. that's right. $1 trillion. new evidence college may not be worth it after all. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> another retailer declaring a special dividend. let's send it over to kayla for a quick market flash. >> that retailer is guess. that dividend came amid a lackluster quarter for the company. it beat on the top line but missed on the bottom line. it lowered guidance for next year a
star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ >>> in on op-ed today, warren buffett insisted that slightly higher tax rates will in fact not deter the rich from becoming much richer. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses, if gas cap pal gains rates and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. none will say well, it all depends on what my tax rate will be. only in grover norquist's imagination does such a response exist. it's true. for ultra rich warren buffett and as pointed out previously, it is true for bill o'reilly and rush limbaugh. buffett supports a minimum 30% federal tax on incomes over 1 m
he calls painful topics, including medicare and medicaid. he was at the center for american progress for about 45 minutes. >> good morning, everyone. thank you for being here. i am the president of the center for american progress. we are thrilled to have senator durbin here today to talk about his views on the fiscal cliff. as we engage in this debate, i wanted to lay out a few principles that are critical as washington becomes obsessed with this set of issues. the elections have consequences. at c.a.p., we have argued that the issues that are really framing the fiscal debate and fiscal cliff were ones that were litigated in the election context. the president did not have one set of conversations before november and a second set now. there was a thread going through the debate that the country was having and that thread was around having a balanced plan to address america's fiscal challenges. there are serious fiscal challenges that we do need long term -- deficit reduction -- that is important to america's credibility. it is important for america's economy and economic growth. tha
of revenue. for example, one of these ideas is raising the medicare eligibility age to 67 from 55. would sething like that work for you? would you be willing to sign onto an idea like that? >> i am interested in the entitlement rform. in order to make these programs available for those who have come to rely on them, for those who have come to expect that they will be there for them. in order to make sure it can survive we have to make adjustments like that. i have already introduced and co-sponsor of legislation that would do some of those things. absolutely i would be interested in discussions along those lines gerri: thank you for coming on. great to see you, and we hope to see you again oon. >> thank you, gerry. gerri: a lot more to ome, including with a potential tax increase living for capital gains. compies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically
among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality ofare and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ no longer beautiful? every year, millions of young women try to change the skin they were born with and say they'd die for darker skin. sadly, some actually do. melanoma is the second most common cancer in teens and young adults, and one person dies from melanoma every hour. change your thinking, not your skin. stop tanning. learn more at spotskincancer.org. a message from the american academy of dermatology. lou: president obama meeting with heads of the labor union today who say thpresid lou: president obama meeting with heads of the labor union today who say the president is committed to higher taxes on tor e.rners, saying the rich do not pay their share. tomorrow, some will meet witho e the president and a
national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ >> lou: i have been just waiting and waiting to talk with my next two guest, joining me, to psychoanalyze david petraeus, some of our nation's leaders, and some of the liaisons, therapist dr. robbie ludwig an psychologist dr. jeffrey guardier, how does a man with a 37 year career, four star general in the us army, distinguished, respected, how in the world does he take the cia job and think suddenly he will not be surveilled, and the good guys, the bad guys and everything in between, watching every step he makes, what would you be thinking? >> he was thinking with the wrong head, right? you know, i think people engage... >> i'm glad you said that. >> i figured i could get away with it. people who know him well loved hi
and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... whh means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ ♪ melissa: a sudden power grab by egyptian president sparking serious protests, but now apparently making some partial concessions to egypt's top judges to help diffuse the crisis. the ground in the mideast is shifting by the day. israel is taking no chances, despite the cease-fire. the country is now testing a new iron dome-like missile defense system called david slang. it will stop midrange rockets. is it preparing for a new wave of turmoil? we turn to naval analyst with the institute for war. welcome back to the show. i want to jump right in. let me ask you about what is going on in egypt. today you think mohammad really is? w
that theo personalty not policy, let's talk about the issue, is medicare going bankrupt or not, senator dirk durban saying we have to tackle medicare or it will be bankrupt in 12 years. let's talk about that instead of norquist, he is one of the most selfless guys in politics. you know this is a reagannesque parts of the soul of the republican party, if some want to break their own pledge to voters not to raise taxes they can do that and be account able. lou: there is not a reagan nesque figure in the republican party right now who is the intellectual leader right now? what group of the republican party? the governors? >> kelly ann is right, governors, there are 38 republican governors, there will be after the first of the year. we'll see who emerges. lou: striking you are not hearing speaker boehner or mitch mcconnell. >> when have congressional leaders been major lead irs of their party, they are wheel ordealers. >> politics abhors a vacuum. lou: governors are nation -- >> but, several are chief executives. i want to stick up for mcconnell and boehner, they are playing hand theying dealt,
are excited. there has been a lot of work on the fiscal cliff. we have talked about medicare savings that can strengthen the program and address rising national health expenditures. we will have more to say on the issue of texas. we are ecstatic to have senator dourban here today, who has played a fundamental role over the last several years. he has been part of every negotiation that has taken place. he is still an optimist. that is a sign of progress. he has had a long history of being a champion an advocate for the middle class. he has carried that advocacy in the budget negotiations. he was part of the supercommittee, the gang of eight, the gang of six. he has been a fighter for what is right for having a plan that stands true to the values of the american people and the people who voted and waited in line for hours on and to vote. they wanted a fair shake out of washington. as a champion of that fair shake, i am excited to have senator dourban. >> thank you very much for those kind words. it is good to see you. thank you for the center of american progress for the work you do. elections
a new openness to raising tax revenue, if democrats agree to make cuts to strengthen medicare and medicaid. >> elections come and go. and when they go the spirit to find common ground becomes greater. >> reporter: georgia republican saxby chambliss and mark warner lead the gang of eight. four senate democrats and four senate republicans, who originally met in 2007 to craft a plan to cut the debt. >> you still don't have a final product after 2 1/2 years. why do shud we have any confidence that the president and the leaders should get anything done in the next two weeks? >> anything we look at we won't completely reform the tax code or completely make all the changes in the entitlement programs in the next seven weeks. over this last 2 1/2 years, we all know where the issues are. can we make enough of a down payment to assure the markets and put a real process in place that will allow us to work through this? >> reporter: chambliss says he and other republicans still oppose hiking tax rates on the wealthy, a move they contend kills jobs. instead, re
to entitlements, medicare and social security. they are also going to address spending in ways that democrats are not going to be happy about. so everybody is going to have to sort of cave here, it would seem. stuart: there has to be compromise on the other side as well as republicans on tax. maybe the democrats have to compromise on entitlement reform at some point. they haven't yet. sandra: grover norquist has already come out and said nobody is caving here, if they do, it is just a trap the republicans are falling into. and this is going to be horrible for republicans, especially in the next election. liz: he also pointed out that george h.w. bush won gulf war one and then really lost reelection. the berlin wall fell under george hw and then lost reelection because he broke read my lips. norquist says in the republican brand you don't raise taxes. as for entitlement reform, democrats, many says we don't need entitlement reform, we want entitlements to be solvent, that's the issue there. stuart: the president will be on the road this week. i don't doubt for one moment he will keep pushing h
. not just medicare. but you know, why don't we negotiate prices for prescription drugs? that would save us $160 billion over ten years. the fee for service volume-driven system that's making it unaffordable, these are things that ought to be put into the discussion and not have it just be what's the ratio because bottom line, we have to come up with something that's more efficient, more effective more sustainable. >> eliot: you make a hugely important point. no question when it comes to healthcare, we have to change, bend to the curve to use the language of washington, d.c. or else we will have a crisis. on the other hand, there are other areas of government spending where we must invest and as you point out in 19th century infrastructure does not make us competitive and what's been lost in some of the conversation here is the necessity of making those investments. are you going to try to lead the charge to bring us back to a more sensible middle ground on this? >> i am. i think some republicans might agree on that
helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ >>> hilton worldwide's luxury brands unit is looking to be the fastest growing in the world. joining us now is the global head of luxury and lifestyle brands for hilton worldwide. i immediately think, john, that no matter where you are at a point in time when you think back four years ago compared to where we are now, you've just got to feel pretty good. >> it's amazing. we saw this after the gulf war, we saw it after 9/11, we saw it after that economic downturn. our business always comes back. people are looking for those luxury experiences. >> but at the time, people were saying maybe you don't want to invest long-term luxury. you had sort of politicia
? some down payment. the second act is some clear indication of what to do with medicare and defense stocks. they have to give a clear indication otherwise there's going to be some kind of credit downgrades in the months going into 2013. how about the greek deal? i fell out of my chair. this is a default in all but name. look at this. an extension of the loans for 15 years. 15 years. $245 billion of loans. deferral of interest payments for ten years. deferred for ten years. and a reduction in interest rates. imagine this. you have a 30-year mortgage at 3%. now instead of a 30-year mortgage you have a 45-year mortgage. instead of 3% you're paying 2%. how about no interest payments for the next ten years on your 30-year mortgage? that's the deal the greeks just signed. it's staggering because what's happening here is don't call it a default. it's not a default. it's a restructuring. the fact is this is the first step on forgiveness of the debt. they're not officially forgiving any debt. don't say that. they'll freak out on you. the fact is that the next step from here is going out into
of legislation. >> medicare alone is 42 trillion unfunded. social security 20.5 trillion. and then you add the 16 that we know about to that. none of these are in black and white those first two that i mentioned. you add it all together, 86.8. >> a lot depends on what happens to medical care. i mean, one thing that could change these estimates tremendously, find a cure for alle alzheimer's. you'll change the estimated how much spending you have to do. if you think over time, many of these forecasts long term forecasts assume no fundamental powerful change. >> find a cure for cancer and everybody livesoff 100. >> but alzheimer's is a very expensive disease. >> but anything that extends life in an expensive way will be -- net i don't think it's cheaper. >> these budget problems are fixable problems that the united states has decided not to fix. this is the decision we're making through our political process. the decision is we're just going to fix it enough to get by another year. we're not going to fix on a grand bargain basis. >> will it pay if we get little bargains over the next ten years? is t
understand medicare say bigger problem than social security but it's all part of the same discussion in the end. >> yes, exactly it is. look, social security is not solvent over 75-year window. it's solvent for a reasonably short period of time but it needs more money to pay the benefits it's promised. either benefits have to be cut or revenue has to be increased. whatever -- however they describe the tract that negotiation is on, it is part of the long-term entitlement challenge washington and congress has to solve. >> all right. see if we could really be worried about them talking about taking it off the table. >>> fears of the fiscal cliff we're talking about right now, weak demand dragging down energy prices today. sharon epperson at the nymex. >> oil prices are falling waiting for more news to come out of the recent range. we are looking at a decline in crude oil, the wti contract and brent crude prices. the fact we're still waiting for a deal in greece, the fact we're waiting for major economic news here in the u.s. and the fact we're still waiting to see what wloo this truce h
to entitlement reform and opposed to any reduction in medicare and social security, but i want to ask you about another spending issue. originally, initially, we were supposed to have an across-the-board budget cut called the sequester of $1.2 trillion over ten years. where's that's gone? that's about $100 billion a year. i'd say that would be a pretty good down payment on deficits and debt. what is getting my goat. everybody is talking revenues. what happened to the skywester? >> that's right, and there's $750 billion yet to go on that based on what we've done so far. and i think the president will have a tough time getting through the republican house and republicans in the senate if in fact you don't have equivalent numbers to that in terms of the discretionary cuts? sequester is not a good idea, but sequester's a great idea versus no spending cuts whatsoever. >> right, there you go. originally some people were say saying 3 to 4-1, spending cuts to revenue increases. $1 of spending doubts $5 of revenue increases, they got the whole thing backwards. basically what i wanted to ask you on this
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